The former head of Galleon Group’s quantitative statistical arbitrage arm has launched his own hedge fund strategy with $150 million.

GSB Podium Advisors has opened two separately managed accounts with its first fundraising fruits. The New York-based firm plans to roll out its Statistical Arbitrage fund and another managed account in September, HFMWeek reports.

The new fund is the brainchild of Shengbei Guo, who served as chief investment officer of Galleon Quantitative Management before Galleon closed its doors in the wake of an insider-trading scandal. Guo, who founded GSB in March, will manage the fund, which Bill Path Capital Management’s Rick Spector serving as chief operating officer.

The highly-liquid fund will employ a market-neutral approach to global investing. It has a $1 billion capacity, $1 million minimum investment and charges 2% for management and 20% for performance. It has no lock-up period and uses Deutsche Bank as prime broker.

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The testimony of former FBI Director James Comey came and went with more hype than harm to Donald Trump’s administration. The more important issue is whether Congress spent too much political capital to get comprehensive tax reform done by the end of 2017. The likelihood of significant policy changes is fleeting for the year. Some economists are even losing hope that tax reform will be completed by the midterm elections of 2018.